Tea restaurant’s Macau revenues up one-third

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Sara Farr Revenues for restaurant operator Tsui Wah Holdings Ltd’s single joint venture in Macau rose by almost one-third in the full year ended March 31. In the 12 months leading up to the end of March, Tsui Wah reported revenues of HK$13.3 million compared with HK$10.2 million a year earlier, the company announced in its annual report filed with the Hong Kong Stock Exchange. The profit share of all joint ventures amounted to HK$37.1 million, an increase of 68.6 percent from the HK$22 million recorded last year. ‘Such increase was mainly due to increased sales of the group’s joint ventures in Hong Kong and Macau,’ the company said in its annual report. In addition, the group’s profit before tax increased by around HK$31.7 million, or 20.1 percent to HK$189.8 million, at the end of March from HK$158.1 million in the 12 months prior. The group primarily engages in the operation of Cha Chaan Teng brand, which operates 27 restaurants in Hong Kong, 13 in mainland China and one in Macau. The Macau site opened in May 2011 in Cotai casino resort Galaxy Macau, run by Galaxy Entertainment Group Ltd. The group was founded in 1967 and is best known for its milk tea and egg tarts.